Salem has now told all of the people that work for them that all full and part time employees will be receiving a 5% pay cut.
ALL ACCESS has confirmed that SALEM COMMUNICATIONS is instituting a 5%
pay cut for employees and a 10% cut for the company's top executives.
Staffers were informed of the move on TUESDAY; the cuts go into effect SUNDAY (2/1) and affect base pay only, excluding bonuses and sales commissions.
Staffers were informed of the move on TUESDAY; the cuts go into effect SUNDAY (2/1) and affect base pay only, excluding bonuses and sales commissions.
This seems a little excessive. Obviously the economy sucks, but radio executives seem to have lost their damn minds. What is with all the hysteria? Button down and deal with it, but we have to understand that these times are not going to last forever. The reason why radio is in so much trouble is because it is in so much debt. When credit thaws out things will be the same as they were in 2007. Of course, the problem is that I highly doubt anyone will notice that the way the industry does programming has to radically change for the industry to make any gains again.
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